Social Security Wage Base, COLA Set for 2025
The Social Security Administration (SSA) recently announced that individual taxable earnings of up to $176,100 annually will be subject to Social Security tax in 2025.
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All Featured (28) For the Public (147) Tax News (468) Accounting & Auditing (227) Business & Industry News (134) Regulatory News (112) Legislative News (49) Chapter News (36) Young CPAs (75) Students (97) TSCPA Press Releases (75)Showing : 11–20 of 468
Important Notice #24-09: Tax Filing Extensions – Hurricane Helene
Consistent with the IRS’s decision to extend federal due dates to May 1, 2025, for those businesses located in a designated disaster area resulting from Hurricane Helene, the Department has extended the franchise and excise tax filing and payment due dates to May 1, 2025.
View MoreTennessee Department of Revenue To Accept Schedule G Refund Claims Until Dec. 2
After thorough review, the Tennessee Department of Revenue has decided to accept Schedule G refund claims until Monday, Dec. 2.
View MoreIRS announces new relief for taxpayers affected by terrorist attacks in Israel: 2023 and 2024 returns and payments are now due Sept. 30, 2025; other relief available
The Internal Revenue Service announced today that due to recent terrorist attacks in Israel, the agency is providing additional tax relief to affected individuals and businesses, postponing until Sept. 30, 2025, a wide range of deadlines for filing federal returns, making tax payments and performing other time-sensitive tax-related actions.
View MoreIRS provides relief for Helene; various deadlines postponed to May 1, 2025; part or all of 7 states qualify
The Internal Revenue Service today announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia.
View MoreIRS opens new process for payroll companies, third-party payers to help clients resolve incorrect claims for the Employee Retention Credit
The Internal Revenue Service announced today that the agency is opening a supplemental claim process to help third-party payers and their clients resolve incorrect claims for the Employee Retention Credit.
View MoreIRS provides an update to frequently asked questions for the Premium Tax Credit
The Internal Revenue Service today updated its frequently asked questions in Fact Sheet 2024-30 for the Premium Tax Credit.
View MoreIRS Issues Final Regulations on Consistent-Basis and Basis-Reporting Rules
The IRS recently issued final regulations T.D. 9991 on the statutory requirement that the basis of property acquired from a decedent be consistent with the basis reported on the estate tax return, finalizing regulations proposed eight years ago (REG-127923-15).
View MoreTSCPA Federal Tax Liaison Meeting Summary
TSCPA’s Federal Tax Committee met with representatives from the IRS at the Federal Tax Liaison meeting on June 4, 2024.
View MoreEstate Planning Before 2026
Estate planning can be a morbid matter that may only impact a small percentage of taxpayers.
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